The European Commission could open a legal case against Germany over a ruling by the country's constitutional court that the European Central Bank had overstepped its mandate with bond purchases, the EU executive arm said on Sunday (10 May).

The €240 billion in ‘cheap’ loans for countries affected by the coronavirus COVID-19 will be available as from 15 May, 15 days ahead of the expected date, European Stability Mechanism (ESM) chief, Klaus Regling, said on Friday (8 May).

The European Commission on Thursday (7 May) proposed scrapping the usual conditions for countries using the eurozone’s bailout fund as they try to revive their economies hit by the coronavirus epidemic. The proposal may make the fund more palatable for...

The economies of EU countries will shrink by 7.4% this year as the coronavirus crisis is set to cause the worst recession in the bloc’s history, according to the European Commission's spring forecast presented on Wednesday (6 May), which also foresaw a significant rebound in 2021.

Europe will need at least another €500 billion from European Union institutions to finance its economic recovery after the coronavirus pandemic, on top of the agreed half-a-trillion package, the head of the euro zone bailout fund said.

Following the Eurogroup’s agreement on the economic response to the coronavirus, European Commission vice-president Valdis Dombrovskis on Friday (10 April) welcomed the €540 billion package in an exclusive interview with EURACTIV.com

The Eurogroup finally agreed on a €500 billion package to support member states, companies and workers in the coronavirus crisis, after The Netherlands and Italy overcame they differences. Leaders will discuss in the coming days the recovery plan and the possibility of ‘coronabonds’.

After a 16-hour teleconference that concluded on Wednesday morning (8 April), eurozone finance ministers failed to find an agreement on the economic package to tackle the economic impact of the coronavirus.

EU member states should not have to choose between financing the COVID-19 response, undertaking crucial long-term investments to tackle the climate crisis, and debt sustainability, write Irene Monasterolo and Ulrich Volz.

EU countries are nearing an economic rescue plan for European countries worst hit by the coronavirus outbreak, sources said on Monday (6 April), but not at the level of ambition called for by Italy and Spain.

The EU should have a fund capable of issuing debt totalling up to 3% of EU’s GDP (gross national income), or around €450 billion, to support the most affected countries, which would be repaid in proportion to each member state’s GNI, according to an internal document seen by EURACTIV.com.

The Hague and Vienna are insisting on including stricter conditionality attached to loans for coronavirus-hit countries, toughening up the formula proposed by the eurozone’s bailout fund (ESM) and seen by EURACTIV.com.

EU leaders on Thursday (26 March) continued to disagree over the economic response to the coronavirus as Northern countries rejected the idea of issuing joint debt, known as "corona bonds", proposed by nine member states to finance the recovery.

The financial crisis management tool of the eurozone countries must be activated without delay and without conditions, said French Economy Minister Bruno Le Maire before the Eurogroup meeting on Tuesday (24 March). EURACTIV France reports.

EU member states took the unprecedented decision to suspend the Stability and Growth Pact obligations on Monday (23 March), in order to allow billions of euros in extra spending to mitigate the "severe economic downturn" caused by the coronavirus.

Germany and The Netherlands, two of the most staunch opponents to the idea of issuing common debt in the eurozone, would be “open” to discuss eurobonds to mitigate the economic impact of the coronavirus COVID-19.

Giuseppe Conte, the Italian Prime Minister, urged EU leaders on Tuesday (17 March) to take extraordinary measures and consider issuing joint debt at EU level in order to help Europe's economy recover from the coronavirus crisis.

Euro area countries have mobilised around 1% of their GDP (€120 billion) to fight against the economic fallout from the coronavirus but continued to disagree over deploying a joint fiscal stimulus, after a joint teleconference held on Monday (16 March).

Members of the European Parliament called on member states and EU institutions to adopt a more ambitious package to address the economic fallout of the coronavirus COVID-19, as the European economy is expected to fall into recession this year due to the pandemic.

After seven years of growth, the eurozone's outlook is deteriorating. There is a risk of a recession if the trade war with Washington worsens, while member states continue to disagree over the completion of the economic and monetary union that would help them cope with a downturn.

Italy's prime minister Giuseppe Conte claimed victory on Friday (13 December), after changing the wording of the Euro summit's conclusion postponing a final agreement on the reform of the eurozone bailout fund.

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